Tenant Screening Services
When researching tenant screening services, look for these 5 things.
Verifying the identity of the individual is the first step when searching an applicant’s financial and criminal history. Identity development matches the applicant’s primary identification including:
- Names including aliases
- Date of Birth
- Address History
- Social Security Number Validation
Credit Report and Score
Property Managers, Associations and Landlords can order an applicant’s credit report and score providing they meet the requirements of the Fair Credit Reporting Act (FCRA) and the Federal Trade Commission (FTC). A full consumer credit report includes:
- Detailed credit history including reporting dates, balances, past due amounts
- Public Records including Bankruptcies, Liens & Judgments
- Identity information including name, address history, SSN and DOB comparison, Employment
- FICO Score with codes detailing impacts on the score
If you can not meet the credentialing requirements for credit reports, consider ordering a Bankruptcies, Liens and Judgments search.
A criminal background check may be provided on a nationwide, statewide or county courthouse level. Criminal searches may also include:
- National Violent and Sex Offender Registry
- FBI, US Marshall and International Terrorist Lists
- Office of Foreign Assets (OFAC)
To access a consumer credit report, permission is required. The applicant must sign a written disclosure and authorization form. The FTC recommends keeping records for a minimum of 5 years. The following records should be included:
- Tenant Screening Application
- Disclosure and Authorization Form
- Completed Background Screening Report
- Adverse Action Notices
- Communications related to the background screening and dispute
Cloud Technology provides convenience, security and ease. The entire application process can be managed online. This platform is user friendly and provides a better experience for the applicant. Features of cloud based systems include:
- Email driven applications which save time and eliminate scanning or faxing
- Sending adverse action notices and denial letters conveniently from an online account
- Secure report storage
- Fast turnaround times
Regulations and technology are ever changing. Keeping up with regulations, compliance and online systems is made easier when using tenant screening agency.
Have a question? Email us. We’re here to help.